Hi Larry, I am 64 soon to turn 65 in May 2017. My wife is 2.5 years younger than me born Oct 1954. I am trying to figure out the best claiming strategy for both of us. Her work record does not have enough credits to claim on her own (32) and she hasn't worked since 1981. She will have to collect on her Spousal benefit. I am thinking about delaying my Social Security benefit after age 66 but not sure what other options we have together. I know that file and suspend is gone now, but something about being born before Jan. 1, 1954 will allow me to still suspend my claim. I was born May 23, 1952. If I wait to collect to 68 which will be about $3156 per month (I have already stopped working this year in Feb. 2017 and not paying into SS anymore and don't plan to go back to work either), will my wife be able to get 50% of that amount once she turns 66? Should I just start collecting at age 66 (approx. $2731) and let her wait until 66 and get 50% of that amount? Are there other more lucrative claiming strategies that I need to be aware of? We have other savings and resources to delay our claiming of benefits for either one of us. We are both in good health and when I did my calculation on my claim, the breakeven point for me to delay until age 70 is at 81.5 years old. My mom lived to 92 and my wife's father is still living at 84. We both take good care of ourselves so we are hoping that we will live well into our eighties. Thanks,

Richard

Hi Richard,

Being born before January 2 1954 just exempts you from the new deeming rules (https://www.ssa.gov/planners/retire/deemedfaq.html), which is meaningless in your case since your wife is not insured for benefits on her own record, so you couldn't be eligible for spousal benefits on her record.

You would be still subject to the new rules on voluntary suspension (https://www.ssa.gov/planners/retire/suspendfaq.html), which means that your wife would be unable to receive spousal benefits on your record if you voluntarily suspend your benefits.

It sounds like it may be best for you to start drawing when your wife reaches full retirement age. Or, you may want to wait until age 70 to start drawing, even though that means your wife would not be able to receive spousal benefits until then. As a widow, your wife could receive your full benefit rate inclusive of your delayed retirement credits (DRC), so waiting until age 70 to start drawing could result in a higher widow's rate for your wife. However, as a spouse while you are living, the most that your wife could receive is 50% of your full retirement age rate (PIA), not 50% of your full rate augmented by DRCs.

You may want to strongly consider using the maximization software available on this website in order to explore all of your filing options and determine the best strategy for you and your wife.

Best, Jerry